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Capital Stock
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Capital Stock Capital Stock
Common Stock
Changes in outstanding common stock were as follows:
(In thousands of shares)202520242023
Outstanding, beginning of year111,669 111,669 111,452 
Shares issued for time vested restricted stock (net of forfeitures)— — 129 
Shares issued for employee stock purchase plan— — 88 
Shares cancelled(21,535)— — 
Outstanding, end of year90,134 111,669 111,669 
Outstanding shares of common stock include shares held as treasury stock totaling 5,616,798, 25,114,978 and 26,471,738 as of December 31, 2025, 2024 and 2023, respectively.
Treasury Stock
Changes in treasury stock were as follows:
(In thousands of shares)202520242023
Outstanding, beginning of year25,115 26,472 21,751 
Shares purchased under our Repurchase Program3,039 — 6,523 
Shares purchased for employee stock options, restricted stock and employee stock purchase plan283 529 577 
Shares reissued for employee stock options, restricted stock and employee stock purchase plan(1,285)(1,886)(2,379)
Shares cancelled(21,535)— — 
Outstanding, end of year5,617 25,115 26,472 
During 2025, 2024 and 2023, we purchased shares surrendered in lieu of taxes upon vesting of restricted shares for an aggregate cost of $2.3 million, $4.5 million and $2.2 million, respectively.
Repurchase Program
Our Board of Directors has authorized a securities repurchase program available for repurchases of our common stock. In April 2025, our Board of Directors increased the remaining authorization under the repurchase program to $100.0 million.
Our repurchase program authorizes us to purchase outstanding shares of our common stock in the open market or as otherwise determined by management, subject to certain limitations under the Credit Facility (as defined in Note 6) and other factors. The repurchase program has no specific term. Repurchases are expected to be funded from operating cash flows, available cash on hand, and borrowings under our Credit Facility. As part of the share repurchase program, our management has been authorized to establish trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934.
During 2025, we repurchased an aggregate of 3.0 million shares of our common stock under the repurchase program for a cost of $20.4 million. Due to restrictions associated with the Fluids Systems sale process and other events, no shares of common stock were repurchased under the repurchase program during 2024.
As of December 31, 2025, we had $91.7 million of authorization remaining under the program.
Preferred Stock
We are authorized to issue up to 1,000,000 shares of preferred stock, $0.01 par value. There were no outstanding shares of preferred stock as of December 31, 2025, 2024 or 2023.